The group’s revenue rose 15% over the aforementioned period to $1.53 billion, while the group revealed earnings before interest, taxes, depreciation and amortization rose 8% to $540 million. .
The group indicated that the good performance of its operational and commercial operations for this period was reflected in the size of the customer base in the Middle East and Africa markets, which recorded an increase of approximately 2 .2 million active customers, representing a growth rate of 4%. compared to the same period last year, to reach about 53 million customers.
Zain said data service revenues saw a significant increase due to the continued development and improvement projects of the fourth and fifth generation networks, with data service revenues up 10% over the same period. last year, accounting for 39% of total revenue. collected.
Osama Al-Fraih, Chairman of the Board of Zain Group, said, “The group has successfully diversified its strategic plans amid ongoing transformations in the telecommunications industry. During this period, it has maintained the gains of its business plans, as it currently plays a leading role as a regional communications provider in Middle Eastern markets.”
Al-Fraih stressed that the group is following the development of the current situation in the Republic of Sudan and hopes that the recent events will come to an end in order to preserve everyone’s security and the country’s capabilities, indicating that the group is aware of the l magnitude of the risks, as Zain Sudan fulfills its responsibilities to the people of Sudan in these difficult circumstances, to ensure the continuity of service delivery.
Bader Al-Kharafi, Vice Chairman and CEO of Zain Group, said: “Consolidated financial results showed strong growth across all of our financial indicators, at a time when Middle Eastern markets are facing market challenges. inflation, rising costs and prices, deteriorating security. climatic conditions in certain regions and growing geopolitical tensions. The strong growth in consolidated revenue demonstrated our ability to maintain significant value creation for our shareholders under these circumstances.
He explained: “The positive development of the group’s business plans highlights the competitive advantages it has acquired during this period, its activity benefiting from the operational excellence of its networks, and the dynamics of its platforms. digital, the latter having made a great leap forward. with a growth rate of 48%, despite the relative difference in the adoption and use of technology in regional markets.
Al-Kharafi went on to say, “The group is committed to providing the latest technologies, improving its service portfolio and continuously focusing on the development and modernization of 4th and 5th generation networks, and deploying more fiber optic networks. Capital expenditures in the first quarter amounted to $112 million, or 7% of the volume of revenues received from this network.
Read the Latest World News Today on The Eastern Herald.
